PANews reported on November 27th that, according to DL News, South Korean financial regulators have urged Bithumb to suspend its Tether (USDT) market service, which allows customers to buy and sell Bitcoin and nine high-market-cap altcoins using USDT. Bithumb stated that the service is still in the testing phase and that it has reached an order book sharing agreement with Australian cryptocurrency exchange Stellar. Due to system maintenance, Bithumb plans to shut down the service on November 28th and restructure it to "provide a more stable and advanced trading environment," adding that it will announce the reopening date separately. Some analysts believe this move may stem from regulators' distrust of exchanges' ability to fulfill anti-money laundering obligations, potentially leading to the termination of order book sharing practices with international partners. Sources indicate that the crypto industry widely believes Bithumb has effectively abandoned its USDT marketplace service after two months of intensive investigation and pressure from financial regulators. Shortly after launching its USDT marketplace service, Bithumb was summoned by the Financial Intelligence Unit (FIU) due to concerns that the service could expose domestic customers to data breaches and money laundering risks. According to South Korean media outlet Newsis, Bithumb also underwent additional on-site inspections by the FIU regarding its order book.PANews reported on November 27th that, according to DL News, South Korean financial regulators have urged Bithumb to suspend its Tether (USDT) market service, which allows customers to buy and sell Bitcoin and nine high-market-cap altcoins using USDT. Bithumb stated that the service is still in the testing phase and that it has reached an order book sharing agreement with Australian cryptocurrency exchange Stellar. Due to system maintenance, Bithumb plans to shut down the service on November 28th and restructure it to "provide a more stable and advanced trading environment," adding that it will announce the reopening date separately. Some analysts believe this move may stem from regulators' distrust of exchanges' ability to fulfill anti-money laundering obligations, potentially leading to the termination of order book sharing practices with international partners. Sources indicate that the crypto industry widely believes Bithumb has effectively abandoned its USDT marketplace service after two months of intensive investigation and pressure from financial regulators. Shortly after launching its USDT marketplace service, Bithumb was summoned by the Financial Intelligence Unit (FIU) due to concerns that the service could expose domestic customers to data breaches and money laundering risks. According to South Korean media outlet Newsis, Bithumb also underwent additional on-site inspections by the FIU regarding its order book.
Bithumb will cease its Tether-based order book sharing service under regulatory pressure.
PANews reported on November 27th that, according to DL News, South Korean financial regulators have urged Bithumb to suspend its Tether (USDT) market service, which allows customers to buy and sell Bitcoin and nine high-market-cap altcoins using USDT. Bithumb stated that the service is still in the testing phase and that it has reached an order book sharing agreement with Australian cryptocurrency exchange Stellar. Due to system maintenance, Bithumb plans to shut down the service on November 28th and restructure it to "provide a more stable and advanced trading environment," adding that it will announce the reopening date separately. Some analysts believe this move may stem from regulators' distrust of exchanges' ability to fulfill anti-money laundering obligations, potentially leading to the termination of order book sharing practices with international partners.
Sources indicate that the crypto industry widely believes Bithumb has effectively abandoned its USDT marketplace service after two months of intensive investigation and pressure from financial regulators. Shortly after launching its USDT marketplace service, Bithumb was summoned by the Financial Intelligence Unit (FIU) due to concerns that the service could expose domestic customers to data breaches and money laundering risks. According to South Korean media outlet Newsis, Bithumb also underwent additional on-site inspections by the FIU regarding its order book.
Market Opportunity
Orderly Network Price(ORDER)
$0.0844
$0.0844$0.0844
USD
Orderly Network (ORDER) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC
The post Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC appeared on BitcoinEthereumNews.com. Franklin Templeton CEO Jenny Johnson has weighed in on whether the Federal Reserve should make a 25 basis points (bps) Fed rate cut or 50 bps cut. This comes ahead of the Fed decision today at today’s FOMC meeting, with the market pricing in a 25 bps cut. Bitcoin and the broader crypto market are currently trading flat ahead of the rate cut decision. Franklin Templeton CEO Weighs In On Potential FOMC Decision In a CNBC interview, Jenny Johnson said that she expects the Fed to make a 25 bps cut today instead of a 50 bps cut. She acknowledged the jobs data, which suggested that the labor market is weakening. However, she noted that this data is backward-looking, indicating that it doesn’t show the current state of the economy. She alluded to the wage growth, which she remarked is an indication of a robust labor market. She added that retail sales are up and that consumers are still spending, despite inflation being sticky at 3%, which makes a case for why the FOMC should opt against a 50-basis-point Fed rate cut. In line with this, the Franklin Templeton CEO said that she would go with a 25 bps rate cut if she were Jerome Powell. She remarked that the Fed still has the October and December FOMC meetings to make further cuts if the incoming data warrants it. Johnson also asserted that the data show a robust economy. However, she noted that there can’t be an argument for no Fed rate cut since Powell already signaled at Jackson Hole that they were likely to lower interest rates at this meeting due to concerns over a weakening labor market. Notably, her comment comes as experts argue for both sides on why the Fed should make a 25 bps cut or…
Share
BitcoinEthereumNews2025/09/18 00:36
ZKP Climbs 300% in Presale Auction: Experts Choose This AI Coin Above XRP & Ethena for 2026
The worldwide market stays firm close to $3.32 trillion, but momentum slows as Bitcoin settles. The XRP price sits stuck below $2.10, and the Ethena price pulls
Share
Coinstats2026/01/19 05:15
ZKP Is the Only Presale Auction With Proof-Backed Rewards: Solana and Binance Left Behind
Liquidity is rotating fast in January 2026. The market is no longer chasing top ten tokens based on name alone. […] The post ZKP Is the Only Presale Auction With
Share
Coindoo2026/01/19 06:02